Apple shares rose 3.5% in premarket trading, after the company reported stronger-than-feared earnings. iPhone sales fell nearly 1% on the year to $69.1 billion, below the $70.7 billion analysts were projecting,

Apple reported $18.5 billion in sales in greater China last quarter, comfortably below consensus estimates of $20.9 billion.

Tim Cook insists Apple Intelligence is convincing people to upgrade — even if the features are underwhelming so far.